Edward J. Strafaci ~ Academic Blog

https://charlierose.com/episodes/29774

$1 million in retirement savings may not get you far in parts of the US,  according to a new report  comparing average expenditures for retirees with each state’s cost of living. To get more bang for their buck, retirees should head south: $1 million would last at least 24 years in Mississippi, Arkansas, Oklahoma, and several other southern states. It would only last 11.9 years in Hawaii. The study doesn’t take into account expenses like entertainment or travel, nor does it account for inflation — which particularly affects older Americans, as health care costs have a higher inflation rate than the broader economy.  • Share your thoughts:  #RetirementSavings

'Animal spirits' vs the efficient market hypothesis 13 JULY 2017 | ALEX WAITE Alex Waite asks whether actuaries are evolving to remain relevant in their economic predictions When I was at school, I wanted to know how the world worked; how planes could fly; and how the international economy functioned. Long before my actuarial exams, I wondered about hyperinflation in the 1970s and the impact of the stock exchange ‘Big Bang’ in 1986. More recently, I’ve been puzzled by how the market seems to get things so wrong: like the millennium ‘dot-com’ bubble or, as put so succinctly by Her Majesty the Queen to the London School of Economics: “Why did no one see [the financial crisis] coming?” If the market can’t be trusted to get things right, can actuaries? I was fascinated to hear of the revolt of economics students in May 2014. Quoting the  Guardian : “Students, who have formed protest groups in universities from Britain to Brazil, say research and teaching in econom